terms of credit

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terms of credit

Posted by Avi Rastogi 6 years ago

CBSE > Class 10 > Social Science

2 answers

Arpit Maurya 6 years ago

Interst rate , collateral , are terms of credi

0Thank You

Yogita Ingle 6 years ago

The four terms of credit are :

1 Interest rate- The borrower has to pay a sum of money as interest along with the prinicipal amout.

2.Collateral- It is an asset that the borrower owns and uses this as aguarentee to the lender until the loan is repaid.

3. Documentation- Proper documents of borrowing with all the terms and conditions must be submitted.

4. Mode of repayment - The mode through which the borrower will repay the loan must be clearly mentioned.

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